Those of us associated with sports betting on a regular basis probably realize that in truth, there was never really any “start” point when folks began betting on sports. It appears pretty natural to place some kind of wager whenever there’s a contest between two different sides, whether it is a competition between individuals or between two different teams.

In fact, you will discover records to show that as long as there are already matches between people, on any side, you will discover individuals that want to add some excitement to the competition through wagering. From the gladiatorial contests in ancient Rome to foot races on North America’s Great Plains, all cultures have put bets involving money or goods once they are watching a competition.

Today, remember, sports betting is significantly more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow several different systems which permit them to make money off of people’s penchant for punting. Whether we have been talking about professional or amateur leagues, you can bet that you will be able to find someone willing to take your wager.

It is critical to realize that the story of sports betting is simply as much about these “middle men” than it really is about the sport one is betting on. Bookies setup their odds based on very complex mathematical formulas, which enable them to to determine how they may generate a profit off of people’s bets. They don’t want too much “action” (money wagered) on one side or another, to avoid losing their profit. Consequently, they have thought up ways to encourage people to bet on each side.

One of those ways is to offer higher payouts should the team receiving less bets win. Folks that take the “underdogs” stand to win a great deal additional money per dollar bet than those that take the favorites.

Similarly, the point spread is used to encourage betting on both sides of the given match. Both methods allow the sports books to come out of each match with some money.

The story of sports betting involves not only book makers, but also the law. You might be familiar with the popular image of the bookie; a thug who takes money and also will behave violently when not paid. However, there are many legal, above board sports books today who are legally sanctioned to take sports bets. In North America, all of these books run out of Las Vegas.

In other areas of the world, sports betting is legal but is also highly regulated. Governments, and sports bodies as well, desire to protect the honest competitive nature of sports. With the sheer amount being bet on the outcome of games, it may be tempting for players to forget about competition in favor of a bribe or other sort of payout. The history of most sports contains stories of players throwing games so that you can receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act attempt to prevent this from taking place by prohibiting sports betting in certain cases and places.

Bear in mind, the next chapter within the story of sports betting may make such efforts moot. Today, excellent gambling sports books are among those businesses which have capitalized on the opportunities available online. Bettors in North America no longer need to make the trip to Vegas in order to put some cash down on their favorite team; instead, the ability to wager will be a click of the mouse away.

Not only tend to be more people able to wager on sports over the Internet, the amount of information available increases the probability of making good bets in a way which has never been seen before. Of course, the information also implies that books will be able to compensate, though the opportunities for making some serious money (at some risk) continue to be available.

It’s safe to claim that betting on sports is one thing that has happened throughout human history, and something that shall happen as long as there are competitions between people. Today, the net has taken the story of sports betting to the next level; the end of that chapter has yet to be written!